A commencement address is in a different context than a regular lecture because that speaker is ushering the graduates into the world and inspiring them for the future. By taking off their robes, the students are showing their dissatisfaction with Dimon being the one to usher them into the world.Ashley Owen

There will be at least two students naked (maybe, or they might have clothes on underneath their robes) in front of Jamie Dimon while he speaks, Mariel Fiedler and Ashley Owen.